Gillespie County: Mortgage Rates and Buying Power in October

What does a 7.32% mortgage rate mean for buyers in Gillespie County today? With the median closed price at $602,500 across 42 sales in the rolling six months ending September 30, 2026, monthly payments are significantly higher than in previous years. A standard 30-year fixed loan with 20% down on that median price results in a principal and interest payment of $3,311 per month. ALEX Intelligence modeled the impact of common buydowns to show how buyers can manage these costs. A 3/2/1 buydown reduces the rate to 4.32% in year one, cutting the monthly payment by $920 for that first year at a total cost of $22,428. A 2/1 buydown offers a smaller reduction, lowering the rate to 5.32% in year one and saving $628 monthly, with a total cost of $11,388. These figures are based on a median sale price of $602,500 and a 20% down payment. The market has seen the median price drop 17.5% compared to the same period last year, while days on market have increased by 36.7%. This combination suggests that while rates remain elevated, price adjustments are creating new entry points for buyers willing to navigate the current financing environment. ALEX Intelligence estimate, not an appraisal. Want to see this home? Call or text George at 713.918.9951 for a private showing. Coverage: most home sales in Gillespie County are listed in the Central Hill Country MLS, which ALEX does not receive yet. The figures in this post count only sales listed in Unlock MLS (ABOR), so they describe part of the local market, not all of it. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog